Denver Lofts and Condos

According to CNN Money, Denver is one of the top 25 fastest growing cities, and has grown substantially in population and employment over the past two decades. The population of the nine-county Denver region is expected to increase from 2.64 million in 2005 to 3.88 million in 2030, an increase of approximately 47 percent. Employment is expected to increase from 1.56 million in 2005 to approximately 2.36 million in 2030, an increase of over 51 percent (http://www.denverunionstation.org/pdfs/deis/Chapter1_Purpose.pdf). The DUS development and the Fas Tracks program are being developed to help with the connectivity of the expanding population in Denver, and with the expansion of transportation, comes the inevitability of increased housing needs, and growth in business in areas surrounding transit hubs (since development and transit enjoy a symbiotic relationship) (http://denver.bizjournals.com/denver/stories/2009/03/02/editorial3.html). 

While Denver's growth may seem unreal considering the current economic situation where the credit crisis has halted many housing developments, subdivisions and stand-alone condominium buildings, the projects moving forward are the projects linked to broader revitalization or transit-related efforts (http://www.nytimes.com/2009/06/14/realestate/14sqft.html?pagewanted=1&_r=1).  According to the Urban Land Institute (ULI: a nonprofit education and research institute with focus on the use of land in order to enhance the total environment  www.uli.org) urban-style development seems to hold the most optimistic future in a generally depressing economy.  The survey found that urban redevelopment had the best future in housing, and urban mixed-use properties and town centers scored high among niche property types.  So if you are looking to purchase real estate in Colorado, it's clear what to look for when shopping:

• 1. The house, condo or loft should be in a well developed area, or in the process of becoming a well developed area (be sure the infrastructure is already in place!)
• 2. The house, condo or loft should be near public transit
• 3. There should be places to gather (restaurants, bars, shops, etc.). If there are places to gather that means there is a good foundation for a community
• 4. There should be parks, walking paths, and/or bicycle paths nearby

It's easier to understand the Walkability Score after studying the larger implications of what it entails and its clear that Denver is on it's way to being a super walkable city, as well as a great commuter city.